1015 Park Ave
Nanaimo, BC V9R4J5
$2,380,000
Property Details
Property & Lot
- Lot size
- 4.74 acres
- Zoning
- Multi-Family
R10
Ownership & Fees
- Property type
- Land / Lot
- Ownership
- Freehold
- Annual property tax
- $11,186
Interior
- Fireplace
- None
Exterior & Lot
- View
- City view, Mountain view
Listing Information
- MLS®
- 1037842
- Listed
- May 22, 2026
- Time on market
- On the market for 101 days
- Data last synced
- August 28, 2026
Listing provided by: Sutton Group-West Coast Realty (Nan) · Data source: CREA DDF.
Description
Prime 4.74-acre multi-family development opportunity in South Nanaimo, ideally situated within a rapidly growing neighbourhood characterized by newer, high-quality residential construction. Zoned R10 and designated Suburban Neighbourhood in the Official Community Plan, the property offers attractive territorial views and strong potential for a range of ground-oriented residential development concepts. City staff have confirmed a maximum permitted density of up to 23 dwelling units under the existing R10 zoning, based on the surveyed developable area. The OCP supports a variety of low-rise residential forms, including single-unit dwellings, duplexes, tri-plexes, four-plexes, and townhomes, with densities up to 25 units per hectare and building heights up to three storeys, subject to City approvals. A previously approved 14-unit development permit (now expired) demonstrates established development viability, while updated topographical information indicates a larger developable area than previously identified, potentially supporting expanded design possibilities. Technical materials, including topographical surveys, environmental mapping, and related reports, are available to qualified buyers to assist with concept planning and due diligence. Buyers are encouraged to independently verify development potential, servicing requirements, and all necessary approvals with the City of Nanaimo and qualified professionals. (id:63159)
Location Insights
Weather
15°C
Partly Cloudy
Humidity 85%
Wind N 2 km/h
Tonight
12°
Tuesday
21°
Tuesday night
14°
Wednesday
16°
Wednesday night
11°
Thursday
17°
Source: Environment and Climate Change Canada.
Population
99,863
(2021 Census)
+10.3% since 2016
Density: 1,104.1/km²
Dwellings: 45,138
Median household income: $75,500
After-tax: $68,500
Immigrant population: 16.1%
Top countries of origin (% of total population)
- United Kingdom3.5% · 3,495
- China1.3% · 1,285
- United States of America1.2% · 1,155
- India1.1% · 1,075
- Philippines1% · 1,040
- Germany0.6% · 635
- Korea, South0.5% · 470
- Viet Nam0.5% · 455
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
11
1/9 categories nearby
Transit
—
Not enough data yet
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| Park Avenue Elementary | Elementary | 572 m |
| Fulford Community Elementary | Elementary | 1.1 km |
| Learning Alternatives | Secondary | 1.1 km |
| John Barsby Secondary | Secondary | 1.1 km |
| Bayview Elementary | Elementary | 1.7 km |
| Georgia Avenue Elementary | Elementary | 1.8 km |
| Chase River Elementary | Elementary | 2.5 km |
| Nanaimo District Secondary | Secondary | 2.8 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
No TransLink stops within an ~10-minute walk.
Nearby Places
Parks (5+)
- Kinette Evergreen Park118 m
- Southwood Park · 1080 Park Avenue222 m
- Kolby Park · 993 Kolby Avenue237 m
- Cambie Park · 390 Cambie Road282 m
- Alpen Way Park463 m
Nearby places data: © OpenStreetMap contributors.
School district: Nanaimo-Ladysmith (SD68)
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Mortgage & Ownership Cost Calculator
Minimum required: 20.0% ($476,000) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.